Salus: Helping Credit Unions Help Members in Need

In the Finopotamus article “Salus: Helping Credit Unions Help Members in Need,” James Chemplavil, founder and CEO of Salus, discusses how the fintech company is enabling credit unions to offer accessible and sustainable microloan programs. Salus utilizes cash flow underwriting, leveraging transaction data to provide a more comprehensive picture of a borrower's financial situation. This approach allows credit unions to make informed lending decisions, expanding access to microloans for members who might be overlooked by traditional credit models. By automating the microloan process—from application to disbursement—Salus helps credit unions efficiently serve their members' short-term financial needs.

Salus also offers a "Stress Score" feature, which uses member data to proactively identify individuals experiencing financial stress. This enables credit unions to offer timely support, such as financial counseling or relevant loan products, enhancing member relationships and promoting financial wellness. By focusing on cash flow underwriting, seamless integration, and a member-centric approach, Salus empowers credit unions to effectively address the growing need for accessible and responsible microloan options, transforming the landscape of short-term lending.